Carney Updates on Deficit Talks July 20

In the White House press briefing, Jay Carney says Obama is willing to compromise and republicans and democrats need to do the same. Obama likes the Senate plan in the works, so he is willing to raise the debt ceiling in exchange for a viable long-term debt plan.

The latest from the AP:

President Barack Obama summoned top Democratic lawmakers back to the White House Wednesday to resume negotiations on averting a potentially crippling government default, as attention focused on a new bipartisan budget plan emerging in the Senate.
The White House also indicated Obama would be willing to sign a short-term debt limit increase — something he's opposed — if it's merely a stop-gap measure to allow time for a broader plan to get into place, something that likely couldn't be finished by the Aug. 2 deadline to increase the government's borrowing limit.